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Kia and Hyundai are two popular South Korean automakers, but do they offer pickup trucks? The answer is yes and no.
Kia does not currently offer a pickup truck, but they have plans to launch one in the near future. The Kia Pickup Truck is expected to launch sometime in 2021 and will be based on the Hyundai Santa Cruz compact crossover. It will feature a 2.0-liter turbocharged engine, an eight-speed automatic transmission, and all-wheel drive as standard.
Hyundai does have a pickup truck in its lineup. The Hyundai Santa Cruz is a midsize pickup with a unibody design that was launched in 2020.
It’s powered by a 2.4-liter four-cylinder engine that produces up to 275 horsepower and 260 pound-feet of torque mated to an eight-speed automatic transmission and all-wheel drive as standard. It also features plenty of modern tech features like Apple CarPlay and Android Auto compatibility, blind spot monitoring, adaptive cruise control, lane keeping assist, and more.
Conclusion: Kia does not currently offer a pickup truck but plans to launch one soon while Hyundai already has the Santa Cruz midsize pickup available for purchase.
4 Related Question Answers Found
Kia is a relatively new car manufacturer, but it has already become popular for its reliable vehicles. It is known for its compact cars, SUVs, and crossovers. But does Kia have a pickup truck?
Hyundai is a South Korean automotive manufacturer that has been selling cars, vans, and SUVs in the United States since 1986. While they offer a wide range of vehicles, they do not currently make a pickup truck. However, there have been rumors that Hyundai may be developing one for the future.
Kia Motors has been making waves in the automotive industry over the past few years, and they have recently been rumored to be developing a new pickup truck. The rumors have been swirling for months, and it appears that Kia may finally launch the new pickup truck sometime this year. Kia has not released any official information about their potential plans for a pickup truck, but some reports are indicating that it could be based on the company’s Telluride SUV.
Kia Motors is primarily known for its production of passenger cars, SUVs and vans. The Korean car maker has used its design and engineering prowess to create some of the most popular models on the road today. But does Kia Motors make a pickup truck?


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This story was published more than 3 years ago.
Gambling giant Aristocrat Leisure has announced that they've been granted approval on a cash million settlement related to lawsuits covering its social gaming subsidiary Big Fish Games.
The company was sued after players alleged that the Big Fish Casino and slots products weren't just video games, but were instead effectively the same as casino games. The court case did see a judge ruling that the virtual coins that can be bought are a thing of value and that the purchases were illegal under Washington law, which caused Aristocrat to settle the case.
Aristocrat was sued for $155 million, but the settlement will be just $31 million. The judge overseeing the case approved the settlement, and a payment should be made to the attorneys at some point soon.

domain: news


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Opera has updated its browser for desktop with new snapshot tool, VR player and several improvements and features. Opera says that new update aims at making web browsing even more interactive and convenient. It includes a handy search pop-up tool, integrated popular social messengers and support for watching online video content using VR headsets.
The Snapshot feature on the Opera Browser gets new editing tools and a selfie mode to help personalize the screenshots taken from the web. It now lets you click selfies and add it to the screenshot instantly and can launch this feature directly from the sidebar via the camera iconor by hitting Ctrl + Shift + 5 (⌘ + ⇧ + 5 on macOS). You can edit the screenshots with pencil, arrow, blur, zoom, and emojis.
Back in May Opera included popular social messengers as a sidebar in the browser and with this new release, the list now includes Facebook Messenger, WhatsApp, Telegram, and VK. With this new integration, users can now make use of these services without having to install any software or extensions.
Opera in this new stable release has also bundled a built-in VR 360 video player; the one feature which was introduced in Opera 49 developer version. Users who own HTC Vive, Oculus Rift, and other OpenVR-compatible devices can now view the VR library. With the new customized start page the way they want with themes, designer wallpapers, bookmark and sidebar options and so on.
Other improvements include a search pop-up tool can currently convert 32 units of measurements, 14 time zones and now 37 currencies. The browser has been sharpened to look its best on HiDPI screens and the private window now closely resembles the regular light theme mode of Opera with an appropriately matched dark address bar.
Opera says that the browser for Desktop has the strongest double-digit growth in 2017 and the number of monthly active users has increased over 25% YoY with a record growth of 65% over the same time last year in the US.


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Amid ongoing controversy and historic recall numbers, General Motors (GM) announced Tuesday that sales in June were up one percent compared to the same time last year. In the announcement, the company said it had the best June sales since 2007.
“June was the third very strong month in a row for GM, with every brand up on a selling-day adjusted basis,” said Kurt McNeil, US vice president of sales operations at GM. “In fact, the first half of the year was our best retail sales performance since 2008, driven by an outstanding second quarter.”
The good numbers come as recalls continue to pile on for GM. Through the end of June, the automaker has recalled almost 29 million cars in North America, more than the auto industry has recalled annually for the past nine years, according to the LA Times. A malfunctioning ignition switch problem has been linked to several accidents and at least 13 deaths. The Chevy Cruze, the company's second bestselling car, has also been the subject of two recalls, one for a faulty airbag and another regarding insulation on an engine heater power cord.
But the question remains: In the long run, will people continue to buy GM cars?
“This could be a case of the death-by-a-thousand-cuts dynamic,” Anthony Johndrow, a managing partner of New York’s Reputation Institute, a firm that focuses on corporate image-building, told NBC News. “You lose resilience when your reputation is injured, and the more hits you take, the more damage you suffer. Your reputation can bounce up, but it can bounce down even quicker.”
Some experts disagree, suggesting that the increase in the number of sales for June means the controversy isn't dissuading consumers from buying GM cars.
“General Motors is resilient,” said Michelle Krebs, a senior analyst at AutoTrader.com. Ms. Krebs added that she believed consumers could be ignoring the latest recalls because there have been so many recently. “Consumers understand that the GM of today is not the GM that made the recalled cars. They are making a different product.”
Even if sales continue to increase, there is no doubt that the recalls, possible lawsuits, and settlements will cost GM a lot of money. The company is already projecting that the recalls could cost $1.2 billion for the current quarter, according to the Wall Street Journal. GM spent $1.3 billion to cover recall costs in the first quarter of the year.
The $2.5 billion the company is planning to pay for recall costs (so far) doesn't include the millions the company will spend to compensate those who were hurt or lost loved ones in accidents connected to recalled parts. GM will provide between $20,000 to a few million dollars to any pedestrian, passenger, driver, or occupant who can prove they were hurt in an accident involving cars GM has recalled through a compensation fund run by Kenneth Feinberg. The automaker will pay $1 million to the families of anyone killed in an accident, according to the Wall Street Journal. It isn't certain how much money the compensation program will cost, but Feinberg has said the compensation fund has no cap to the amount it will spend to compensate victims.
There could also be criminal charges brought against the company for allegedly failing to comply with laws requiring timely disclosure of vehicle defects. "The [Southern District of New York] and [The Department of Justice] are currently conducting a criminal investigation of GM which resembles the one they conducted of Toyota and ended in a $1 billion settlement," said Carl Tobia, a professor at the University of Richmond School of Law. "It may be several years before the probe is completed as Toyota’s took four."
Ms. Krebs said the lawsuits wouldn't have a big impact on GM because the charges will take a while to resolve. She said criminal charges didn't hurt Toyota in 2009, when it went through its own set of major recalls. By the time the criminal charges were settled in 2014, Toyota's sales had already bounced back. Referring to the amount of money GM will have to spend on the compensation fund and recalls, Krebs said, "Certainly there will be a hit to the bottom line but not one GM can't handle."


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Looks like Britney Spears is expecting a girl.
The pregnant Chaotic star was spotted at Petit Tresor, one of Hollywood’s chicest baby stores, loading up on designer infant clothes — all for girls. “I don’t think it was a present for someone else,” says our spy. “She was buying a lot.”
Spears was shopping solo, buying French, Italian and British designer baby clothes, including items by Liberty and Petit Bateau, as well as some lesser-known lines, in sizes newborn to twelve-month-old. She was also stocking up on accessories, such as blankets and bibs.
A rep at the store confirms the story to The Scoop, but says that Spears didn’t volunteer whether the shopping spree was for her baby or someone else’s — and no one asked. “She was very private, and we respect that,” says the rep. “And she was also very pleasant.”
In the drink
The new-age actress reportedly threw a drink in Stone’s face when he asked about her sex life.
“I met Oliver Stone recently and he asked me if I still make love. I became so furious that I threw my glass of wine in his face,” the "Terms of Endearment" star said, according to ContactMusic. “It’s amazing how men think that women no longer have sexual desire once they reach their 60th birthday.”
In fact, the 71-year-old MacLaine says she needs a younger man to keep her interested. “I’d never be involved with or attracted to a man my own age. He wouldn't be able to keep up with me,” she said. “I need a man who is about 15 years younger than me — someone who is flexible and fun and energetic."
Notes from all over
Jeannette Walls Delivers the Scoop Mondays through Thursdays on MSNBC.com
© 2013 msnbc.com Reprints


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Now, the studio behind some of gaming’s most iconic titles such as System Shock and Thief has announced Leap. The multiplayer game is set in a world that takes on a sci-fi theme with four factions fighting for control over their homeland.
Blue Isle Studios, the studio behind Valley and Citadel: Forged in Fire, today revealed Leap, a brand new multiplayer first-person shooter, as well as the start and finish dates for its closed beta.
Leap adds aerial firefights and an emphasis on mobility to the genre’s tried and true features, supporting up to 60 players. You play as a mercenary who chooses between the United Earth Defense Coalition and the Exo-Terrans before putting on one of four exo-suits and joining the fight.
Each exo-suit has its unique set of abilities that allow players to launch orbital attacks, place automated turrets across the area, or use guided cruise missiles to blow up their opponents.
Personal vehicles such as hoverboards or a kickass mechanical moose join jetpacks and grappling hooks in assisting you in traversing the “six vast areas” accessible when the game enters Steam Early Access.
The start date for Leap’s closed beta has been set for January 19, and it will expire two days later, on January 21. Those interested may sign up for a chance to play on the game’s official website.
When early access starts, a variety of game modes will be offered to accommodate varied player counts in small, medium, and big versions of these landscapes.
Leap also includes cosmetics for your firearms, armor, and personal vehicles, as well as a selection of weaponry to unlock for each class.
Although the developer claims it’ll be “coming soon,” there’s no news on when the first-person shooter will hit Steam Early Access. According to current plans, it will remain there for a year while the team works to address issues, improve stability, and add new content. Mod support is also in the works.
More information on the game can be found on Steam, and the announcement video can be seen below.
Keep updated on the latest PC Gaming news by following on Twitter, checking out our videos on YouTube, giving us a like on Facebook, and joining us on Discord.


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Property developers London & Stamford and British Land have outlined plans to turn Meadowhall shopping centre, Sheffield, into the UK’s largest out-of-town shopping destination.
The developers are looking to expand the retail space of the shopping centre by 700,000 sq ft, with plans for a new Ikea next to the existing site, a homewares development similar to Manchester’s Trafford Centre and a boosted food offering.
The new developments are unlikely to be connected to the current building, but will expand Meadowhall’s overall retail space from 1.4m sq ft to more than 2m sq ft, according to The Daily Telegraph.
Last week, British Land said it was gearing up to start new retail developments for the first time since the recession. Retail rents grew 0.7% in the year to March 31 as retailers flocked to open in regional centres with large catchment areas, such as Meadowhall.


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Online electricals retailer AO is looking to fill 250 logistics roles at its hub in Crewe in response to the rapid growth in online shopping during the Covid-19 pandemic. The electricals retailer has also added over 225,000 sq ft of warehouse space in the last three months to meet online demand, including a new 115,000 sq ft warehouse in Stafford, which is due to open in August at Redhill Business Park. David Ashwell, MD of AO Logistics, said: “We’ve been […]
Prime Minister Boris Johnson has pledged £100m of investment aimed at improving local roads as part of a bid to reignite the economy in the wake of the Covid-19 pandemic.
Food transport provider Nagel Langdons increased revenues by 7% to £160.9m in the year ending 31 December 2019.
Scottish firm Menzies Distribution has renewed its partnership with Yodel which will see it deliver more than 1.7m parcels a year to customers in Scotland.


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No Nintendo Switch XL Coming This Year
Earlier today, Nintendo revealed the Switch Lite, a portable-only iteration of the company's successful console. This streamlined version of the Switch seems to verify half of the rumor from earlier this year: That Nintendo is working on two new revisions of its console – one simplified, and one upgraded.
However, don't expect to see the other half of that rumor anytime soon. Nintendo of America president Doug Bowser has reportedly confirmed that the Switch Lite is currently the only revision on the way, with no Switch XL coming yet. According to CNET, "[Switch Lite will] also be the only new Nintendo Switch hardware this holiday, as Bowser says the larger Switch won't get an upgrade right now."
While you wait for official info about the Switch XL (or whatever it is eventually called), you can read our parody article from Game Infarcer 2017 to see what the unit almost certainly won't be like.


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Microsoft said its Surface for Windows RT will be priced competitively with other current devices. Like, maybe, Kindle Fire cheap? While we fully expect Amazon to introduce a new Fire or two by the end of this year, many folks will be wondering how the diminutive Android tab stacks up against Microsoft’s new wunderkind. The Surface for Windows RT is aimed squarely at the average consumer — you, me, mom, dad — meaning the Fire will be up against even more stiff competition in the already crowded tablet market. We know which we prefer: Surface. Not only does it offer 32GB and 64GB storage options, but those drool-worthy Touch and Type smart covers as well. The Kindle Fire is admittedly seven months old already, and the Surface is still at least four months from hitting consumer hands. Despite these facts, let’s see how the two stack up, shall we?
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Audi, Beats By Dre, and Samsung all staked their product placement claims throughout the Avengers franchise, but the biggest deal by far was by Harley-Davidson.
The “teens” on the Beverly Hills 90210 reboot didn’t just carry around a Microsoft Surface Tablet. They dished up a full product tour that would put a Best Buy employee to shame.
Several brands paid for the privilege of being featured in the superhero show, but one of them was so bad it became legendary. Acuvue–yes, the contact lens company–sponsored the fifth season episode “Vengeance.”
If you want to escape a zombie horde, do it in style with a Hyundai Tucson! That seems to be the message from the product placement in The Walking Dead, anyway.
Right off the bat, the rom-com You’ve Got Mail tipped its hat to AOL.But that’s not what earns the movie a spot on this list. No, the worst product placement happened when the characters visit a Starbucks.
For decades, James Bond’s car of choice was an Aston Martin. That changed in 1995’s GoldenEye thanks to a massive product placement deal with BMW. Heineken paid $45 million to be featured in the 2012 Daniel Craig film.
Hollywood Branded figured out that there are a total of 220 featured brands across the seven films in the franchise.Of those, 17 were Chinese brands placed to appeal to viewers in that market.


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New Australian Overwatch 2 character and release date revealed
At the 2022 Xbox and Bethesda showcase, Overwatch 2 revealed its newest character, an Australian character called Junker Queen.
Diablo 4 reveals Necromancer, details on customisation and open world
At the 2022 Xbox showcase, Blizzard revealed the Necromancer class for Diablo 4, and shared more details about its open…
Diablo Immortal Review Snapshot
On first impressions, Diablo Immortal provides much of the series' familiar, moreish power curve in a more streamlined and convenient…
Warcraft Arclight Rumble is Blizzard taking mobile games seriously
Blizzard is exploring new territory with a Warcraft strategy game built completely with mobile devices in mind: Arclight Rumble.
World of Warcraft reveals new expansion pack, Dragonflight
A new race/class combo, and extensive updates to talent and profession systems are coming to World of Warcraft in the…
Blizzard announces new survival game, hoping to find staff
Blizzard has announced it is working on a new, original survival game, putting a call out for staff after suffering…
Blizzard has cancelled BlizzCon 2022 to refocus on future
The Blizzard team will refocus on supporting its team and progressing games development.
Diablo 4 gets new director amidst Activision Blizzard crisis
The previous Diablo 4 director stepped down in August as part of the ongoing toxic workplace scandals at Activision Blizzard.
Behind the pioneering animation of the Overwatch cinematic universe
The world of Overwatch is more than a game, it's a freely accessible Pixar-style animated universe. We chat to two…


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Lululemon, the popular yoga apparel brand, may be encountering obstacles in its path to success, according to one analyst.
The company’s iconic “pant wall,” which showcases its signature yoga pants, underwent a significant transformation in 2015. This change proved to be advantageous for Lululemon over the past year; however, the positive momentum is expected to subside as future quarters will be compared against these improved results. The upcoming fourth-quarter earnings report, set to release in early spring, will mark the beginning of this challenging comparison.
In a research note published on Wednesday, CLSA analyst Rick Patel expressed concerns about Lululemon’s ability to sustain growth without substantial innovation, especially when faced with tougher comparisons. Patel initiated coverage of the stock with a price target of $73, representing just a 7% increase from its current value of $68.50, as he predicts that the company’s shares will underperform compared to the overall market. Patel also holds a relatively pessimistic outlook on Nike.
While Lululemon does have some potential for growth in relatively new areas, it remains uncertain whether these ventures will be successful.
One area of potential struggle for Lululemon is in menswear. Firstly, the brand’s recognition primarily lies with women. Additionally, Patel pointed out that the areas in which Lululemon aims to expand are already dominated by sports apparel giants like Nike and Under Armour. Moreover, Lululemon’s products tend to have a higher price point compared to similar items from its competitors.
“While pricing has not been a hurdle for women’s bottoms, we anticipate challenges in other categories due to the dominant position of competitors,” explained Patel.
The Bigger Picture
Lululemon’s recent growth has set higher expectations for the company’s future performance, presenting a challenge as it strives to impress investors moving forward. Furthermore, forays into new territories like menswear pose their own set of challenges for an already well-established brand.


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It’s true when they say you can’t make an omelette without breaking eggs - especially where The Moor is concerned.
Passers-by stopped in their tracks in Sheffield city centre as diggers began demolition work, marking the dawn of a new era for the shopping street.
Scenes of shattered buildings, rubble and other debris were reminiscent of the aftermath of the World War Two air attacks which devastated the city in December 1940 as the block of buildings from the corner of Rockingham Way were torn down.
The work is making way for an 80,000 sq ft store to be occupied by a ‘major fashion retailer’, a range of restaurants and a rooftop cinema.
Martin Black, aged 62, of Pitsmoor, had been watching the action all afternoon.
He said: “It’s strange seeing it all being brought down. The street feels a lot less closed-in now. It’s about time it got a new look.”
Author Neil Anderson, who has written books on Sheffield’s shopping scene, said: “It’s hard to know what’s happening with Sevenstone. The Moor seems to be the only place in Sheffield centre where you can see redevelopment happening.
“The Moor holds a lot of fond memories for people, there was a real will for it to happen in the early days.”
Investors predict the development will be open by 2015.
n Shops cash in on fun day: Page 19.


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BELGIUM: Union says GM has no interest in future Antwerp car production
A union representing the 1,250 workers scheduled to be made redundant when Opel closes its Antwerp plant in Belgium say parent GM has no interest in seeing car production continue at the site.
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TW announces HBO Go
April 6, 2009
Ignoring Bob Iger's dismissal of the online subscription model, Time Warner chairman and CEO Jeff Bewkes unveiled HBO Go, a broadband complement to the premium network only for subscribers to the linear service.
“We’re all being too slow,” Bewkes said. “We should put up all our networks on the Internet, out on broadband right now. Get it out on home screens, broadband screens, put it on the Hulus and YouTubes, but only if people are subscribing to the video plant.”
Subscribers will access HBO Go through their cable provider Web site. From there, they would be able to view movies and series and set up their own watch lists.
The other cable network executives appeared to support the Bewkes model.
News Corp. chairman Rupert Murdoch said that cable networks have to find a way to monetize the Web, before consumers begin to expect to get their content for free.
“The fact is with free content, people are used to it being free on the Internet,” Murdoch said. “Nobody is making any real money from the Web except search. We have to monetize it.”
Viacom CEO Philippe Dauman, however, expressed some concerns about the TV Anywhere model for traditional ad- supported cable networks.”That anywhere model works well for Showtime or Epix,…When you’re relying on an affiliate revenue stream, it becomes a more complex issue.”


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Like a Local: Sara and Pat Lee quickly draw fans of pho
Although Sara Lee and her husband, Pat, opened their twist on Vietnamese cuisine a little over a year ago, it’s already caught fire and spurred plans for the restaurant’s expansion elsewhere in Austin.
PhoNatic, near the intersection of Anderson Lane and Burnet Road, will grow to become three brick-and-mortar restaurants by the end of the year. In February, Lee said, a second one will open at the Southpark Meadows shopping center in far south Austin, off Slaughter Lane, and a third is in the works for a summertime opening at a shopping center still being built in Cedar Park.
The Lees, who also own a Vietnamese restaurant in Houston, one of a franchise called Pho Saigon, noticed that many of the places offering Vietnamese fare are very traditional.
“Pat saw that Vietnamese was the only food that hadn’t really gone mainstream yet, and that’s when he came up with the PhoNatic concept, our own spin on Vietnamese cuisine,” Lee said. “Our menu is authentic, but in a modern setting.”
Indeed, the decor in PhoNatic suggests that it’s nothing likeTam Deli and Cafe, a North Lamar Vietnamese restaurant that’s been around since the late 1990s. But make no mistake — like Tam Deli, PhoNatic offers all the staples of a Vietnamese menu, such as pho and vermicelli and rice dishes, albeit with some twists. For example, the most popular item, Lee said, is Pat’s banh mi slider that comes on a steamed bun, rather than the typical French bread.
The couple’s three kids often ask for a meal at their restaurant, but after spending a week working there, Pat in the kitchen and Sara sometimes up at the front with customers, both desire a break to dine at other local restaurants. They’ll take the kids to favorites like Threadgill’s on North Lamar Boulevard or Phil’s Ice House on Burnet Road, which has a playground that Sara Lee calls the “best invention ever” because it gives parents the chance “to actually finish a meal.”
If the Lees aren’t at PhoNatic or their weekly date night, they’re with their kids. The parents like to take them to the family-friendly shows occasionally playing at ACL Live, a music venue where the Fresh Beat Band, a group that got its start on Nickelodeon, has performed. Other venues the Lees go to that offer shows for kids are the Cedar Park Center and the Frank Erwin Center, which is hosting “Sesame Street Live” from Feb. 14 to 17.
But they aren’t away from PhoNatic for too long. With a family in the grocery store and restaurant business, serving up good food is in their blood — at least in Pat’s. Pat’s father, who moved his family from Vietnam when Pat was 4, is the founder of the MT Supermarket, a 55,000-square-foot Asian grocery center on North Lamar Boulevard that originated from a much smaller mom-and-pop shop. Pat’s brother is the owner of another Asian restaurant in the area.
Sara Lee is certainly partial to her husband’s cooking. She said she is always impressed with anyone who can pull out random ingredients from the fridge, toss them into a pot and come out with a gourmet meal, and that’s what Pat does easily.
“He’s way more of a chef than I am,” she said with a laugh.
Do as the locals do! Each week we’ll bring you recommendations from notable Austinites on what you’ve just got to check out — from insider tips on where to catch the best live music to where to find the best Tex-Mex. To suggest someone to feature, email Arianna Auber at firstname.lastname@example.org.


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New store brings 30 jobs to area
FOREST PARK — Celebrations got off to a busy start at the new Roses Express in Forest Park Friday.
Deadline for the Affordable Care Act is March 31
McDONOUGH — The deadline to enroll in the Affordable Care Act is fast approaching.
Annual pumpkin sale helps fund event at Jonesboro First United Methodist Church
JONESBORO — As a result of Jonesboro First United Methodist Church’s annual pumpkin sale, the group was able to purchase and bag food for people in need.
Now that the hustle and bustle of Christmas is over, most folks are looking to the next big holiday — New Year’s.
STOCKBRIDGE — Valentino McDowell is serious about his Christmas lights.
Civil War re-enactors take over Nash Farm Battlefield
HAMPTON — More than 300 Civil War re-enactors recreated the Battle of Utoy at Nash Farm Battlefield Saturday.
McDONOUGH — Consumers this month will find many items with pink labels, pink boxes and pink ribbons claiming to donate proceeds to a breast cancer charity.
JONESBORO — Mark Little, 49, is a life long resident of Jonesboro.
Approximately 410 men will succumb to it this year
McDONOUGH — Dr. Scott Timbert has been a breast health specialist for 15 years.
McDONOUGH — Georgia drivers could see gas prices drop another five to 10 cents through September and possibly into October.


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AARP Eye Center
We’re living in a digital world. According to a 2013 Google/Ipsos poll, 78% of baby boomers are online, 52% of seniors are online and it's growing every day. These age groups spend more time each week on the Internet (about 19 hours) than they devote to television, radio and magazines or newspapers.
Yet, millions of people over the age of 50 are not online. Research also shows once older Americans get online they find that digital technology often becomes an integral part of the daily lives. On the next AARP Live on RFD-TV, AARP talks technology.
AARP will explore the barriers that are keeping people from logging on and how AARP is working to help those who’ve fallen behind in the digital age catch up and get comfortable with technology. AARP also will discuss how technology can help ward off isolation among older adults—particularly in rural areas.
Join the conversation: Tell AARP how you use technology to stay in touch with family and friends. Call in during the show, Thursday, November 20 at 9 PM Central on RFD-TV, watch right here on the web or watch using the AARP Live Tab on our Facebook page!
AARP Live will take your calls, questions, and comments live at 1-877-731-6733. Two lucky callers will have a chance to win one of two AARP RealPad tablets we’re giving away. ( November 2014 AARP Live SWEEPSTAKES RULES


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SACRAMENTO - Biotech giant Amgen Inc. reported Thursday that its fourth-quarter profits rose, topping analysts' estimates, despite government warnings about the safety of its popular anemia drugs.
The company's forecast for 2008, however, calls for revenue to dip compared to 2007 — in line with Wall Street's expectations — and for earnings to slip into a lower range and fall short of Wall Street's prediction.
Amgen reported a profit of $835 million for the fourth quarter, or 76 cents per share, compared with $833 million, or 71 cents per share, during the same period a year earlier. Revenue fell 2 percent to $3.75 billion from $3.84 billion in the quarter a year earlier.
Excluding a mix of one-time buyout and restructuring charges, the company said it earned $1 per share, compared with 90 cents per share a year earlier. Analysts polled by Thomson Financial expected an adjusted profit of 97 cents per share on revenue of $3.54 billion.
The pharmaceutical maker, based in Thousand Oaks, earned an adjusted total of $4.30 per share for the year, excluding stock options expenses, on revenue of $14.78 billion.
It forecast earnings per share in 2008 of $4 to $4.30 per share on revenue of $14.2 billion to $14.6 billion, while Wall Street analysts forecast earnings per share of $4.37 on revenue of $14.49 billion.
Not everyone was concerned with Amgen's projections falling short of expectations. Eric Schmidt, a biotech equities analyst with Cowen and Company, LLC, said the company was playing it safe and could easily exceed its own estimates.
"It's pretty hard to see Amgen falling short," said Schmidt, who said predicted of the company's anemia drugs had leveled out and wouldn't fall farther.
Amgen's stock price fell nearly 35 percent in 2007 amid U.S. Food and Drug Administration concerns about a class of drugs that includes the company's Aranesp and Epogen products, which treat anemia caused by kidney failure or chemotherapy.
The FDA issued a "black box" warning, its most serious, on erythropoiesis-stimulating agents, include Aranesp and Epogen, after research suggested high doses increased patients' risk of tumors and death.
Aranesp sales slumped 25 percent to $827 million in the fourth quarter and 12 percent for the year to $3.61 billion, driven mainly by a 39 percent drop in U.S. fourth-quarter demand, the company reported.
Fourth-quarter Epogen sales fell 3 percent to $638 million, and annual sales dropped 1 percent to $2.49 billion.
Amgen is also facing scrutiny from New Jersey's Attorney General, who subpoenaed company records after two former sales representatives accused Amgen of pushing its sales force to market its top-selling psoriasis drug Enbrel for unapproved uses.
Company officials have said Amgen would cooperate with the investigation but have declined to comment on it.
Separately, Amgen said a trial showed its post-menopausal osteoporosis drug denosumab was 40 percent more effective on some measures than Merck's Fosamax.
In after-hours trading, Amgen shares were up 5 percent to $48.45, after closing regular trading at $46.12 before the results were released.
AP Business Writer Damian J. Troise in New York contributed to this report.


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Sep 18, 2018
Why is the King of the Cloud Buying Time?
He follows the lead of numerous other technology multi-billionaires who have purchased important publications in the last few years.
Marc Benioff, the founder of the cloud software services company Salesforce, announced this week he will purchase Time magazine, a struggling icon of the news industry, for $190 million.
He follows the lead of numerous other technology multi-billionaires who have purchased important publications in the last few years, including Jeff Bezos, who bought the Washington Post, and Laurene Powell Jobs, wife of Steve Jobs, who purchased The Atlantic magazine.
Salesforce is one of the most successful technology companies in the U.S., and the largest employer in San Francisco, with annual revenue of $11 billion, and a market cap of $118 billion.
Salesforce successfully commercialized a cloud computing service called Software as a Service, or SaaS, for its primary product offering, which helps businesses manage sales cycles with their customers.
More about Benioff and Salesforce
Benioff, a San Francisco native, reportedly conceived the idea for Salesforce while floating off the Big Island in Hawaii more than 20 years ago. He launched his company from his apartment in 1999.
He was something of a child genius, designing apps from an early age, and launching a programming business as a teenager that earned him $1,500 a month—reportedly enough to pay for his own tuition by the time he went to the University of Southern California. He briefly wrote code for Apple in the 1980s before becoming one of the youngest vice presidents at Oracle, where he focused on sales and strategy.
Salesforce and the cloud
Salesforce was an early pioneer of using SaaS for commercial enterprises. SaaS is one way that consumers and businesses use the cloud, accessing software from distant servers via the Internet.
Want to learn more about the cloud computing industry? Read here.
Salesforce is active in an industry called customer relationship management, or CRM. It’s an industry, largely developed by Salesforce, devoted to using data to manage relationships with current and potential customers.
Rather than sell CDs with the company’s software, or otherwise installing its software on customer networks, Salesforce gives its customers access to Salesforce’s products from the company’s own network, on a subscription basis.
In so doing, Salesforce has lowered the costs of its software product, enabling customers to tap into the most recent version of the software, without having to license the product themselves and monitor for the latest updates.
More about the cloud
The cloud computing industry has three different components. In addition to SaaS, there is Infrastructure as a Service, which allows businesses to host their offerings on servers in the cloud; and Platform as a Service, which enables customers to run multiple software applications from a distant computer network.
Salesforce competes directly with Oracle, SAP, and Microsoft, which have similar CRM products.
Some other large cloud computing companies include:
- Amazon (Amazon Web Services)
- Microsoft (Azure)
- Google (Google Cloud Platform)
Amazon and Google provide cloud infrastructure services. That means they host the servers that store information for other companies that use the cloud to deliver services. Salesforce, for example, uses Amazon Web Services for its offering.
Tech titans that own publications
- Time magazine was one of the most famous magazines in the print news world in the 20th century, owned by Time Inc. Founded nearly 100 years ago as a news journal tackling some of the toughest stories of the times, the magazine has since fallen on hard times as its readership has shrunk and advertising for print media has dried up. In 2017, Time Inc. sold itself to Meredith Corp. for $2 billion.
- Jeff Bezos purchased the Washington Post for $250 million in 2013.
- Laurene Powell Jobs, the widow of Steve Jobs, purchased a controlling stake in the Atlantic magazine in 2017 for an undisclosed sum.
- Marc Benioff has an estimated personal fortune of $6.7 billion.


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Inflation reached 3.2 percent in August after the biggest month-on-month increase since records began in 1997.
The Office for National Statistics (ONS) said the consumer price index (CPI) rose 1.2 percentage points from July to August. The CPI monitors changes in the value of a basket of goods regularly purchased by typical British households.
The current rate exceeds the Bank of England’s 2-percent inflation target and is the highest since 2012.
The ONS has advised caution when assessing the August price hike, however, which it described as “provisional”.
Statisticians said the cost of living rose less sharply in July, partly due to lower clothing and footwear prices.
Additionally, last year’s Eat Out to Help Out scheme made food much cheaper than in August this year. The scheme offered diners a massive government-backed discount on meals worth up to £10.
Earlier this month, wholesale firms warned of a rise in food prices due to a shortage of staff, including HGV drivers, fruit and vegetable pickers and meat processors. For example, the price of tomatoes has risen significantly, rising from 75 paise last year to 1.47 pounds.
Darren Labett, managing director of Woods Foodservice, a wholesaler that supplies the pub and restaurant business, told BBC Radio 4 that wholesalers and other parts of the supply chain were unable to absorb rising costs.
“Vegetable oil is now at its highest price for more than 30 years,” said Mr Labett.
After the announcement of inflation figures, the government has already begun to face online backlash, with Labor MP John Trickett claiming that August’s hike would negate the Conservatives’ planned NHS pay hike.
The increase would result in the Bank of England’s governor, Andrew Bailey, being forced to write to the chancellor to explain why prices have risen so quickly and what the central bank will do to bring inflation back within target.
Credit: www.independent.co.uk /


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At the Mi 11X series launch event last month, Xiaomi had also announced their flagship Mi 11 Ultra in for the Indian market. The phone at the time was given a launch price of INR 69,990 for the 12/256GB variant.
There were no mention of other variants and a possible launch date. Since there were speculations surrounding the launch date and the constant queries from the customers, pushed Xiaomi India to release a statement on this matter. In a message that was posted on the brand’s social media channels, the Mi India team explains how this move arrived as the company faced issues that were ‘beyond their control.’
In the letter the company also says that “We understand that many of you are keen to buy this ultra-premium flagship smartphone. However, due to circumstances beyond our control, we regret to inform you that there will be a delay in shipments of Mi 11 Ultra”. From the looks of it, the brand is struggling with getting units from their suppliers in China and also looking at the COVID second wave in the country.
Launching a flagship phone in this fragile market doesn’t seems to be the best decision and it’s good that the brand clarified the prospective buyers of the situation. Mi 11 Ultra has been a hit for the brand globally and packs the latest and greatest specs that you could pack in a smartphone right now.
We expect the phone to be on sale sometime late June in both Online and offline market.


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Boohoo linked to more supply chain issues, suspends two suppliers
Fast fashion retailer Boohoo has been mired in yet more supply chain controversy with allegations that workers in Pakistan were being paid just 29p per hour to produce its clothing.
Boohoo said the latest allegations, revealed by the Guardian newspaper and supported by video evidence, “are extremely concerning”.
The claims are focused on its supply chain in Faisalabad, Pakistan, and Preston, England, and allege that some workers are being paid up to 40% below the £81 minimum monthly wage for unskilled labourers. They also highlight potential safety issues in a Pakistan factory.
After the newspaper approached Boohoo about the findings, the company suspended UK supplier JD Fashion Ltd (which is no relation to JD Sports), and production company AH Fashion from its supply chain while it investigated the claims.
Another factory allegedly involved, Madina Gloves, denied workers’ claims that it had recently been making clothes for Boohoo. AH Fashion acknowledged it had fulfilled an order for the brand as recently as October.
Meanwhile, Boohoo has also appointed independent compliance and auditing firm Bureau Veritas to investigate the allegations in Pakistan.
A Boohoo spokesperson said: “As part of our international compliance programme, AH Fashions received a SMETA audit in November 2020, where no issues of this nature were found, so these allegations are extremely concerning”.
These latest accusations follow a Sunday Times report earlier this year which alleged poor pay and conditions at a factory in Leicester making Nasty Gal brand products.
The company launched an independent review which led to the introduction of its ‘Agenda for Change’ programme, designed to “deliver meaningful change to the group’s supply chain and its business practices”.
Last month, Boohoo also appointed high profile former lawyer Sir Brian Leveson to provide independent oversight of the programme. A key part of his role is “to strengthen oversight” in Boohoo’s global supply chain, with a particular focus on undeclared subcontracting.
Boohoo’s own review had highlighted issues with unauthorised subcontracting in its UK supply chain and it said it “took immediate action by deploying additional third party auditing resource both in the UK and overseas to map and audit our supply chain”.
It intends to publish its UK supplier list by March 2021 and its global supplier list by September 2021.
Of the latest allegations, Boohoo added: “As we have previously stated, we will not tolerate any instance of mistreatment or underpayment of garment workers. Our early investigations have revealed that AH Fashions was not a declared supplier by JD Fashions and that Madina Gloves has not produced any orders for Boohoo since July 2019.
Copyright © 2023 FashionNetwork.com All rights reserved.


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Toyota, Honda and Nissan halted production in Japan for most of the week after Friday’s devastating earthquake and tsunami. But all three build most of their U.S.-sold cars in North America, so Americans shouldn’t see a shortage.
The companies are suspending production to assess damage to plants, ports and roads following the natural disaster, which was centered in northern Japan, killing thousands, destroying towns and wrecking the infrastructure of the world’s second-largest auto producer.
U.S. supplies of some fuel-efficient cars such as the Toyota Prius hybrid, Toyota Yaris and Honda Fit, may be affected because they are built exclusively in Japan and could become more desirable if U.S. gasoline prices reach $4 per gallon.
“There could be some issues where customers don’t get the exact vehicle that they want,” said Jessica Caldwell, an automotive analyst with auto website Edmunds.com. “But I would say it doesn’t look like the inventory situation right now looks dire.”
Top U.S. sellers such as the Toyota Camry, Honda Accord and Nissan Altima — all sedans — are made in North America. Barclays Capital analyst Brian Johnson said he expects the companies “to maintain adequate inventory for most vehicles.”
Japan made nearly 7.9 million vehicles in 2009, or about 13 percent of the 61.7 million vehicles produced worldwide that year, according to the International Organization of Motor Vehicle Manufacturers. The U.S. is its largest market, taking in 1.2 million Japanese vehicle imports, according to the Japan Automobile Manufacturers Association.
In Japan, Toyota Motor Corp., the world’s biggest automaker, said it was shutting down production at its 12 wholly owned factories through Wednesday and suspending factories that it partly owns. The closures are expected to affect production of about 40,000 vehicles.
Nearly 70 percent of Toyotas sold in the U.S. are made in North America.
Nissan Motor Corp. said it will shut down production at four Japanese plants until Wednesday and will suspend production at two plants until Friday. Nissan said some of its luxury Infiniti models and Nissan GTR and 370Z could be delayed reaching the U.S.
About 1,300 Nissan vehicles bound for the U.S. were damaged at Japan’s Port of Hitachi in Ibaraki prefecture along with 1,000 vehicles being stored at a service center in Miyagi, the company said.
Honda Motor Co. said it was suspending production at six Japanese plants through the end of the week, along with a research and development center and an engineering office in Tochigi.
About 80 percent of the vehicles Honda sells in the U.S. are built in North America.


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AT&T's LTE Devices Launching Aug. 21, Network to Follow
Updated: added detail
AT&T today announced that its first batch of Long Term Evolution-compatible devices will become available on Sunday, August 21. The devices, both made by Sierra Wireless, are the USBConnect Momentum 4G (dongle) and the Elevate 4G (hotspot). The Momentum 4G costs $49.99 and the Elevate 4G costs $69.99, both requiring a new two-year contract. Both devices will include a slot for microSD cards, support for GPS, and support for Apple computers at launch. The Elevate 4G has a 1.77-inch LCD display for access to device information and supports up to five connected devices for up to five hours. Both devices can also fall back to Category 14 HSPA+ (max of 21Mbps downloads under optimal conditions) when LTE isn't available. They will be in AT&T stores starting August 21. AT&T's LTE network will launch at some point soon after the devices become available, but AT&T has still not locked down a definitive date. AT&T also announced that the USBConnect Adrenaline will also be able to be updated to LTE beginning Aug. 26. LTE data plans for mobile broadband devices will cost $50 per month for 5GB. Overage charges will come in at $10 per GB over the 5GB limit. AT&T's first five LTE markets will be Atlanta, Chicago, Dallas, Houston, and San Antonio. AT&T plans to have 15 markets and 70 million people covered with LTE by the end of the year.
Boost Mobile Adding Alcatel OneTouch Conquest and Elevate to Roster
Boost Mobile today announced the Alcatel OneTouch Conquest and Elevate, two low-cost Android handsets. Shared features between the two handsets include support for LTE, 5-megapixel rear cameras, 2-megapixel front cameras, and the Google Now launcher.
AT&T Shows Off '5G Evolution' Mobile Hotspot
AT&T today announced the Netgear Nighthawk Mobile Hotspot Router, what it calls the first 5G evolution mobile hotspot. The device supports AT&T's test 5G networks in select markets, such as Austin, Texas, and AT&T's existing LTE 4G network everywhere else.
Verizon Debuts Global Jetpack with LTE-A and Support for 15 Connected Devices
Verizon Wireless this week announced the MiFi 7730L Jetpack, a global mobile hotspot that provides wireless access to WiFi devices in the U.S. and around the world.
Boost Mobile's Latest Hotspot Costs $50
Boost Mobile today debuted the Netgear Fuse, a mobile hotspot that can provide up to 10 hours of web surfing for up to 10 devices via WiFi. The hotspot has a 2,500mAh battery and a 1.77-inch display, which provides device status info.
AT&T Preps More Than 100 Markets for 5G, Expands LTE-LAA
AT&T today said it has launched what it calls 5G Evolution in 117 new markets, bringing the total of pre-5G markets to 141. The company says its 5G Evolution technology can deliver theoretical speeds up to 400 Mbps to properly equipped phones.
4g phones but no 4g service?


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Snapchat have issued an official apology to users nearly 10 days after over 4.6 Million usernames and phone numbers were leaked by hackers.
The California based company said that the latest update for the mobile app on both platforms allows users to opt out of linking their phone number with their username. Of course this comes too late for users, whose information is already in the leaked database.
Users who aren’t affected by the hack can however make use of this to ensure their contact information is not stolen in the future. To opt out from linking your contact number, open the app and navigate to Settings > Mobile #.
The update also requires new users to verify their phone number before using the Find Friends service.
This is the apology which the Snapchat team posted on their blog.
Our team continues to make improvements to the Snapchat service to prevent future attempts to abuse our API. We are sorry for any problems this issue may have caused you and we really appreciate your patience and support.
Let us hope things improve for the service and their users.


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"Phillip Morris" on DVD and Blu-ray on April 5th21 Jan 2011
By Tommy Pihl (JCO Editor-In-Chief)
Lionsgate has announced the DVD, Blu-ray Disc and Digital Download release of "I Love You Phillip Morris". It will be released on Region 1 DVD and Blu-ray on April 5th 2011 at a suggested retail price of $39.99 (Blu-ray) and $27.98 (DVD).
The R-rated comedy was produced in 2009 and released in theaters overseas early last year. In December, it made its way to a limited release in theaters in the U.S. and is still playing in 74 theaters.
-- Source: Lionsgate. Click to comment this article.
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China press review
Chinese Communist Party resolution cements Xi Jinping’s leadership, putting him on par with Mao, and paves way for legacy-defining third term. The Central Committee’s 6th plenum ends with adoption of third historical resolution in party history, puts Xi on the same level as Mao Zedong and Deng Xiaoping.
China trade: surging export prices mask falling volumes, but turning point looms as Christmas orders dry up. China’s exports in October again beat expectations by growing 27.1 per cent from a year earlier. But analysts say surging prices have propped up the value of exports and concealed declining export volumes for some products.
Cainiao, the logistic arm of Alibaba, officially launches its European eWTP hub at Liege Airport: Cainiao Network, the logistics arm of Alibaba, has officially opened and put into service its first warehouse located on the edge of the runways at Liege Airport.
RCEP trade deal reaches ‘milestone’ after ratification by Australia and New Zealand. The Regional Comprehensive Economic Partnership (RCEP) trade agreement will take effect at the start of January RCEP groups the 10 member states of the Association of Southeast Asian Nations (Asean) plus Australia, China, Japan, New Zealand and South Korea.
China holds the financial key to huge carbon emission avoidance. Coal power generation needs to be phased out quickly to achieve the targets of the Paris Agreement. Cost-competitive renewable energies are already pushing coal out of the market in many countries. Nevertheless, some countries are still constructing new coal-fired power plants. China is an important part of this puzzle.
Profits at China’s industrial firms jumped 16.3 per cent year on year to 738.74 billion yuan (US$115.7 billion), quickening from the 10.1 per cent gain in August. China’s industrial sector has been hit by the surging price of coal, supply shortages and power rationing triggered by coal shortages due to emission reduction targets
Chinese President Xi Jinping and Belgium’s King Philippe on Monday exchanged congratulatory messages on the 50th anniversary of bilateral diplomatic ties. In his message, Xi said he attaches great importance to the development of China-Belgium relations and stands ready to work with King Philippe to take the 50th anniversary of the establishment of diplomatic ties as an opportunity to push for new achievements in China-Belgium relations and make new contributions to the development of China-Europe relations.
Why China’s slow economic growth is a bigger headache than its energy crunch and Evergrande’s debt crisis: The problems in the energy and property sectors, though serious, do not pose a systemic risk to the economy, despite the alarming news headlines.
IMF Trims View on Growth Rebound as ‘Dangerous Divergence’ Seen: The International Monetary Fund expressed concern the global economic recovery has lost momentum and become increasingly divided, even as it stuck by its prediction for a robust rebound from the Covid-19 recession.
China presses US to cancel tariffs in test of bilateral engagement: China said on Saturday it pressed the United States to eliminate tariffs in talks between the countries’ top trade officials that Washington saw as a test of bilateral engagement between the world’s biggest economies.
China’s Sept services activity returns to growth: Caixin PMI: Activity in China’s services sector returned to growth in September as a major Covid-19 outbreak in the eastern province of Jiangsu receded, a private-sector survey showed on Friday, offering some support to a slowing economy.
Changing China: How Xi’s ‘common prosperity’ may impact the world: China says its policies aimed at narrowing the widening wealth gap are precisely what it needs in this moment of its economic trajectory – but critics say it comes with even greater control of how business and society will be governed.
European companies in Hong Kong considering moving staff elsewhere because of zero-Covid restrictions, chamber says: Strict quarantine rules have led many businesses to consider restructuring at least part of their operations to places such as Singapore, says chairman of European Chamber of Commerce.
China’s consumption story steadily evolving: China’s consumption story is evolving. Rising incomes still matter, but the primary feature of the next decade may very well be the impact of sweeping demographic and social change that is coinciding with the rapid march of technology.


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In an Attempt to Ruin Bitcoin New York Regulators Issues Subpoenas to Firms Tied to The Virtual Currency
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In an attempt to ruin Bitcoin like they did with the US dollar, New York's top banking regulator has issued subpoenas to roughly two dozen companies associated with bitcoin as part of a wide-ranging inquiry into the business practices of the fledgling virtual-currency industry, according to people familiar with the matter.
Virtual Currency Threatens US Dollar As a Stable And Reliable Alternative. More Foreign Countries Embrace The Bitcoin.
The subpoenas, from the New York Department of Financial Services, seek information on a range of topics, including antimoney-laundering programs, consumer-protection measures and investment strategies, according to the people.
Subpoenas were sent to firms backed by high-profile Bitcoin investors such as Cameron and Tyler Winklevoss.
The department, led by Benjamin Lawsky, also plans on Monday to issue a memo expressing concern that virtual-currency companies aren't complying with the state's money-transmission laws. As a result, the state is considering setting new guidelines that are specifically aimed at virtual currencies.
"We believe that—for a number of reasons—putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual-currency industry," wrote Mr. Lawsky in a draft of the memo reviewed by The Wall Street Journal.
Companies that received subpoenas include some of the best-known names in the nascent industry, including Coinbase Inc., BitInstant and Coinsetter.
Executives from Coinbase and BitInstant couldn't be reached for comment on Sunday. Jaron Lukasiewicz, chief executive of Coinsetter, said in an email that the information request is "an opportunity for companies in our space to open up a much needed dialogue with regulators."
He added, "They'll quickly find that most companies are working to legitimize Bitcoin and want to build bridges that help regulators understand and support these financial innovations."
The state agency also sent subpoenas to companies backed by high-profile Bitcoin investors, including venture capitalist Marc Andreessen, and twins Cameron and Tyler Winklevoss, who are best known for battling Mark Zuckerberg over ownership of Facebook Inc. Mr. Andreessen and the Winklevoss brothers couldn't be reached for comment on Sunday.
Bitcoin, the best-known of a crop of virtual currencies, are created in a computer process called "mining." They also can be traded on a number of exchanges or swapped privately among users. Most bitcoin are traded on a Tokyo-based exchange called Mt. Gox, where one bitcoin was valued Friday at roughly $102.
A subpoena is a legal demand for information and doesn't signal wrongdoing by the recipient. The New York banking department sent the subpoenas late last week, according to the people familiar with the matter.
The subpoenas come amid heightened scrutiny from state and federal regulators into the world of virtual currencies. Because virtual currencies aren't backed by a central government like traditional ones are, regulators are worried they can be used for illegal activity or can violate laws involving money transmission.
Federal regulators earlier this year issued guidelines placing virtual-currency exchanges under the same comprehensive antimoney-laundering requirements as traditional money-transmission businesses such as Western Union Co.
Although a growing number of bitcoin exchanges have registered their businesses with the U.S. Treasury Department's Financial Crimes Enforcement Network (Tell Them To Keep Their Hands Off Our Virtual Currencies), they have moved more slowly at the state level. In part, that is because the process of getting a license in each of the 48 states that require them is complicated and lengthy. In addition, states also typically require companies to put up a bond that could run as much as several million dollars.
New York has been one of a handful of states aggressively examining the industry. Mr. Lawsky has assembled a team to assess the issue and already sent a warning letter to BitInstant, a New York company that allows customers to buy and sell bitcoins.
"If virtual currencies remain a virtual Wild West for narcotraffickers and other criminals, that would not only threaten our country's national security, but also the very existence of the virtual currency industry as a legitimate business enterprise," according to the memo.
The round of subpoenas also are aimed at gleaning information about how the companies are dealing with individual investors who may be attracted to the novelty of virtual currencies, but may not be sophisticated enough to understand the risk associated with them.
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Spotify hired Sheila Spence to help the music streaming platform buy other companies. Spence will report to Spotify chief financial officer Barry McCarthy.
Freeform, the young adult brand being positioned for the Walt Disney company, named Tricia Melton as the new senior vice president of marketing.
Former Hyundai executive Jochen Sengpiehl has been hired as the Volkswagen Group’s new global marketing director.
JCPenney hired former Lowe’s veteran Marci Grebstein to serve as executive vice president and chief marketing officer.
Ad tech veteran Bruce Falck is headed to Twitter as their new general manager of revenue product. Falck will report directly to company CEO Jack Dorsey.
Former Bloomberg media executive Todd Swidler is joining Twitter to run its live video business.
Heather Dietrick, the former president of Gawker, is headed to The Daily Beast to become their new president and publisher.
Hasbro announced that Edward ‘Ted’ Philip has joined their board of directors.
CBS chief executive Leslie Moonves signed a two-year extension with the media company and is is now expected to stay through June 30, 2021.
James P. Hackett has replaced Mark Fields as the new CEO of Ford.
Sega announced the departure of their COO and president, Jurgen Post, who had been with the company for over 10 years.
Google announced they are launching “Google for Jobs,” a search engine service focusing on jobs ranging from entry-level and service-industry positions to high-end professional jobs. The service will be available in the United States.
(Editor’s Note: This post will be updated daily until Friday, May 26. Have a new hire tip? Let us know at email@example.com.)
|Director, Digital Marketing||Banana Republic||San Francisco, CA|
|Director, Digital Marketing||Lehigh University||Bethlehem, PA|
|Marketing Director||Essendant||Philadelphia, PA|
|Director, Targeted Marketing||Total Wine||Bethesda, MD|
|Director of Marketing||Office Solutions Company||Vancouver, BC|
|Director, Strategic Marketing||Aetna||Sunrise, FL|
|Senior Marketing Director||ScopeMedia Inc.||Vancouver, BC|
|Director, Digital & Marketing||Walgreens||Chicago, IL|
Make sure to check back for updates on our Jobs Page.


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Cognex, a global leader in machine vision solutions, is preparing to display its new DataMan 380 at LogiMAT India 2024. The DataMan 380 is an advanced image-based barcode reader designed to simplify barcode reading operations, capturing and tracking crucial product and package information in high-speed operations to enhance efficiency and throughput. With its wide field of view, it can capture codes across large areas, reducing the need for multiple devices.
Key features include powerful AI-accelerated decoding, simultaneously processing 1D and 2D codes, and optimizing read rates in complex logistics applications. The modular design allows users to address various manufacturing and logistics challenges with a single reader. Edge Intelligence insights offer real-time performance monitoring, helping identify issues and recommend process improvements.
Cognex primary objective in participating in LogiMAT India is to establish and strengthen their brand’s global presence by showcasing its trusted solutions. The company aims to connect with a diverse audience and emphasize reliability as a vendor in the Indian market.
Established in 1981 and with over 43 years of experience, the company has evolved into a global powerhouse in delivering AI-driven technologies. Under the leadership of Mr. Robert Willett, the President and CEO, Cognex maintains a global presence in more than 35 countries.
Cognex specializes in machine vision-based solutions, particularly in the field of logistics automation. With a strong focus on artificial intelligence, the company manufactures image-based barcode scanners and leverages advanced software to reduce dependency on human decision-making. Surprisingly, Cognex allocates 17% of its global revenue to research and development, which over the years has resulted in over 1000 patents, highlighting a steadfast commitment to pioneering technology.
At LogiMAT India 2024, scheduled from February 28th to March 1st in Greater Noida, Cognex India’s main highlight is the introduction of the DataMan 380. Additionally, Cognex will be showing other products from their logistics automation segment, including solutions such as the DataMan 370, DataMan 380, and DataMan 580 series logistics detectors, along with 3D dimensioning systems, all of which can address both inbound and outbound logistic automation.
Cognex’s participation in LogiMAT India 2024 is not just about showcasing products but also about learning from industry trends, understanding customer needs, and gathering market exposure to continue building a robust presence in the logistics automation sector.


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One of the most anticipated arrivals of the year is ready to debut and share its unique back story.
Bitty & Beau’s Coffee expands from Wilmington, North Carolina, and plans to host a grand opening and ribbon cutting on Wednesday, Feb. 14, at 10 a.m. inside a former pet boutique at 159 Church St.
Amy Wright, who launched in January 2016, has four children, and two, Bitty & Beau, were born with Down syndrome. Wright saw an opportunity to help people with intellectual and developmental disabilities, who are among the most vulnerable in finding steady jobs. Her coffee shop is staffed with a very enthusiastic crew that live with issues like autism and cerebral palsy.
An immediate hit, the uplifting success story attracted the attention of CNN, which made Wright its “2017 CNN Hero of the Year.”
Aside from the upbeat, safe space atmospheres, the coffee shop has also received raves for its casual menu of hot and cold beverages, smoothies, pastries, and breakfast snacks and burritos.
Occupying 975-square-feet and located across from Tommy Condon’s Restaurant, future opening hours have not been revealed, but the original is open daily from 8 a.m. to 5 p.m.
• Bitty & Beau’s Coffee Announces Charleston Expansion [ECHS]
• Bitty & Beau’s [Official]


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Q2 Earnings Report
PayPal's (NASDAQ:PYPL) second quarter report was strong on paper. The company reported a 15% growth in revenue (even higher if you disregard fluctuations in currency), a 26.5% increase in free cash flow compared to a year prior, and an 11% increase in active customers. Additionally, PayPal's acquisitions, such as Venmo, have shown very strong growth. This growth has been exhibited in past quarters and are expected to be sustained through future quarters. Yet despite these factors, the stock dipped over 7% the day following its earnings report due to how investors regarded PayPal's new deal with Visa (NYSE:V).
With PayPal's new agreement with Visa, it becomes necessary to examine the risk and reward tradeoffs between the increased transaction volume and increased transaction costs resulting from this deal. I believe that when considering the still expanding fintech industry, a choice to increase PayPal's total payment volume (TPV) and market share, even at the expense of higher transaction costs, is the correct path to take for long-term success. The partnership with Visa further cements PayPal as an established player in the industry and eliminates the previous fears of Visa siding with a competitor or becoming a direct competitor itself. PayPal's increased presence in the market long term will decrease the sway of merchants, lenders and banks, allowing the company to exert greater influence in negotiating transaction and other costs.
That being said, those interested in PayPal in the short term should remain less optimistic. For the next quarters, there's an expectation that profits and margins will dip with the rise in transaction costs associated with consumers using funds from a credit card in place of transferring funds directly from their bank. Additionally there is the risk that those who previously used a lower transaction cost fund source, such as a bank, may be swayed to switch to their Visa card if it is more convenient. Following the dip in PayPal's stock, there has been no immediate rebound as investors recognize the impact on upcoming revenue and margins.
PayPal as An Opportunity
The decline in stock price should not be solely viewed as the consequence of PayPal acquiescing to unfavorable terms of a popular and strong payment provider. Rather it should be seen as an investment for future success for it makes PayPal less vulnerable to competitors in the short term and sets up the company for a more dominant future. Let us delve into both the positive and negative drivers for PayPal as it continues its trajectory forward after its departure from eBay (NASDAQ:EBAY) last year.
PayPay's stock price immediately dipped following the company's 2Q16 announcements. Future earnings reports will be impacted negatively as users take advantage of the higher transaction cost Visa services. At the same time however PayPal will continue to see strong growth in recently acquired divisions. Venmo's TPV was up 141% this quarter and is not near its peak for potential. Additionally PayPal as a company has been focused on keeping its services available on mobile devices and tablets as those platforms show continued growth in use. Xoom saw nearly three quarters of its transaction take place on a mobile devices.
The mobile wallet and payments industry is undergoing strong growth and PayPal's established position in the industry allows it to reap a large portion of the success of the industry in the short term. In addition, PayPal is a beneficiary of merchants who seek alternative payment services from PayPal's competitors such as Google (NASDAQ:GOOG) (NASDAQ:GOOGL), which have close relations with banks opposed to more independent service providers such as PayPal.
Long Term Drivers
In the long term, PayPal will benefit from a trend of conglomeration in the mobile payments industry. Currently filled with many competitors and startups, this industry will ultimately begin to mature as consumers begin to side with larger payment options, such as PayPal, due to accessibility and simplicity. Additionally there is expected to be greater cohesion between banks, lenders and firms going into the future.
It is not insignificant to consider management's active role in improving the stock price of PayPal. In early 2016, the Board of Directors authorized a stock repurchase program that provides for the repurchase of up to $2 billion of common stock. PayPal already has returned $300 million of this to shareholders this quarter. Management is heavily incentivized to raise the price PayPal's stock, and CEO compensation consists of 69% performance based compensation.
With regard to the direction of the company, it is too early to say where PayPal will put its efforts into expanding (perhaps money lending), but its decision will play a large role in its long-term success.
As an incumbent player in the digital market, PayPal has inherent competitive advantages that come into play with attracting potential customers. Although I would not say that PayPal has a definitive moat, the company benefits from, and will continue to benefit from, the network effect with regard to the appeal of its products. Additionally there is increased cohesion in PayPal's various services that will serve to strengthen the company's offerings. Newer offerings such as Venmo can be used in conjunction with traditional PayPal services in a number of mobile apps for payment. Additionally Braintree is now powering many popular services, such as Uber.
PayPal's business is not without its inherent risks. The company's mobile business is heavily impacted by physical device manufacturers and companies such as Apple (NASDAQ:AAPL) and Google, which have the power to hamper PayPal's integration into mobile devices. Furthermore, the mobile payments industry is extremely competitive with relatively few barriers currently keeping innovative start ups from making a dent in more established players' market shares. Alternatives such as startups WePay and Intuit will try to out-compete PayPal. However, as stated earlier, there will be increased incentive for consumers to gather around larger players in the industry due to their wider breadth of offerings and availability. In recent quarters, PayPal has seen success with growth and profits, and investors may have reason to be wary should PayPal's management decide to remain stagnant in its success. That being said, given the company's past of strategic acquisitions and new product offerings, I do doubt that now would be the time for it to slow down its plans for future growth.
- The recent dip in price is due to short-term headwinds.
- PayPal's fundamental business underneath is still strong with a number of drivers of revenue growth.
- Long term, the mobile payments industry will trend toward conglomeration.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.


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Republic Media Network made big all-round growth announcements on Wednesday, declaring aggressive expansion across the digital & broadcast space for the audience in India and abroad. From the much-anticipated announcement of R. GLOBAL to a mammoth digital expansion rollout, R. has laid out a clear roadmap to be India’s Digital Tech Broadcast Media Powerhouse.
Following Google’s announcement on Thursday that Chrome would be delaying its third-party cookie phaseout by almost two years, the overwhelming sentiment across the industry is … relief.
The health of children across the UK will be improved as new restrictions will mean they are less exposed to advertising of unhealthy foods, the government has announced today. . . . The new rules apply to TV and UK on-demand programmes, as well as restrictions on paid-for advertising of HFSS foods online as part of the government’s ongoing commitment to tackle unhealthy eating habits at source.
The Irish Council for Civil Liberties is suing a branch of the Interactive Advertising Bureau (IAB) and others over what it describes as "the world's largest data breach".
Ad revenue in India is forecast to rebound strongly by 2025, following a 27% plunge in 2020, with ad spends on digital media overtaking those on television (TV) by 2024, according to a Media Partners Asia (MPA) report.
Conviva, the intelligence cloud for streaming media, released its inaugural State of Streaming Advertising report today, revealing big gaps in how publishers, buyers and consumers perceive streaming ads, and what this means for the future of the multibillion dollar streaming ad industry.


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Time: 07:30:00 - 10:00:00
Place: MCLE, Inc. 10 Winter Place
Cambridge's MC10, which has developed electronics that stretch and bend with the body's movements, and Reebok on Wednesday announced a new wearable product for athletes that identifies impacts on the head during play.
The product — a thin mesh skullcap that fits under the helmet — will be available early next year from Reebok's CCM Hockey line, the companies said.
The product was developed by MC10 and Reebok’s Advanced Concepts group, and "is designed to direct athletes on a pathway to assessment to determine if medical treatment or rest is needed before resuming play," according to the announcement. It's been developed for "players of all ages and skill levels, not just for professionals," the companies said.
In August, MC10 was named one of the World Economic Forum's 23 Technology Pioneer companies for 2013.
MC10 is developing products that include sensors that monitor heart rate, brain activity, muscle function, body temperature and hydration, along with intelligent medical devices with embedded sensors "for enhanced sensing and therapeutic capabilities."
The company has raised more than $20 million in outside investment to date, with backers including Braemar Energy Ventures and North Bridge Venture Partners.
Clarification: The initial version of this story said the skullcap is meant for hockey players. MC10 subsequently said that while it is being put out by Reebok's CCM Hockey line, the product is meant for players of all sports.
VC & Startups
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eNaira Set for Boost as CBN Partners with Blockchain Firm Gluwa. Nigerians can expect a more user-friendly and accessible eNaira as the Central Bank of Nigeria (CBN) joins forces with blockchain firm Gluwa. This exciting partnership aims to leverage the power of blockchain technology to unlock the full potential of Nigeria’s digital currency.
eNaira Set for Boost as CBN Partners with Blockchain Firm Gluwa
The collaboration focuses on several key areas:
- Reaching new users: Gluwa’s Credal technology will play a key role in bringing more Nigerians into the financial system. By establishing a credit reputation system on the blockchain, even those without a traditional bank account could benefit from eNaira’s features.
- Enhanced functionality: The partnership promises to develop new functionalities for the eNaira, making it more attractive for everyday use. This could involve faster transactions, more convenient features, and wider merchant acceptance.
- Innovation through collaboration: The CBN and Gluwa aim to foster a wave of financial innovation built on the eNaira platform. This could lead to new financial products and services tailored to the needs of Nigerians.
This MoU is a positive step towards the wider adoption of eNaira. By harnessing the potential of blockchain technology, the CBN and Gluwa are working to make eNaira a dependable and meaningful digital currency for all Nigerians.
Also, Credal integration with CBN’s eNaira is about leveraging blockchain technology to address a key challenge hindering eNaira adoption.
In simpler terms, Gluwa provides the technological foundation (blockchain) while Credal offers the specific application (credit scoring) that benefits eNaira users. Their combined efforts aim to make eNaira more accessible and trustworthy.


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Often, people are considered the weakest link in a security chain, as they are fooled into revealing passwords or choose passwords that are easily decipherable. This is a misconception that can lead some business owners or IT professionals to believe that IoT, given its near total level of automation, is inherently secure. Nothing could be further from the truth, because nothing is [...]
PTC, announced plans to move its global headquarters to 121 Seaport in Boston’s Seaport District. In so doing, PTC will bring more than 1,000 employees and a 30-year heritage of technology innovation to the site of the nation’s first-ever Innovation District.
Connected devices or IoT seem to have become the de facto solution for any industry, today. An increase in connected devices leads to increase in the amount of data transferred, stored, computed, and consumed across networks and devices.
At Minds + Machines Europe in Berlin, Germany this week, GE unveiled new solutions that are purpose-built for industrial assets, environments and operations. This came at the same time as Jeffrey Immelt stepped down as chairman and chief executive of General Electric Co., says Jeremy Cowan.
The ACM US Public Policy Council (USACM) and the ACM Europe Council Policy Committee (EUACM) have released a Statement on IoT Privacy and Security addressing existing and expected privacy and security concerns in the Internet of Things (IoT) ecosystem.
Today, the number of connected devices is set to overtake the world’s human population. This connected devices ecosystem is what we popularly call the Internet of Things or IoT.
Greg Clark MP, Britain’s Secretary of State for Business, Energy & Industrial Strategy, has today given the green light to 5*StarS as part of the national strategy to establish the UK as a global centre for the development, testing and commercialisation of Connected Autonomous Vehicles.
For both developers and network providers, the road to the Internet of Things (IoT) has meant stepping into the unknown, but purpose-built test tools and services are now lighting the way, according to Stephen Douglas Solutions & Technical Strategy lead, Internet of Things, Spirent Communications.
MobileIron, which specialises in security for the digital enterprise, has formed an Internet of Things (IoT) division which will focus on building a comprehensive platform to secure IoT deployments from sensor applications to gateways to the resources they connect to.
In light of the news that Hewlett Packard Enterprise is now launching solutions designed to remove barriers for mass Internet of Things (IoT) adoption, Jeremy Cowan talked exclusively to Chris Kozup, vice president of Marketing, to understand Aruba’s strategy.
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It’s the little box that holds some of the most prized possessions in a bank: customers’ indispensable documents, their heirloom jewelry, or even their family’s antique vase.
But the safe deposit box, once a staple of any bank branch, has itself become an antique. Banks are reporting that safe deposit box use is on the decline, with occupancy rates dropping quickly as customers buy home safes, digitize and store documents electronically, and, in this era of conspicuous consumption, prefer to display their valuables rather than stash them away for special occasions.
Jerry Pluard, the owner of Safe Deposit Box Insurance Coverage LLC, an Illinois company that insures the contents of the boxes, estimates that nearly half — 45 percent — of safe deposit boxes in the country are empty today. Boston-based Santander Bank says demand has slipped so much that it won’t even include safe deposit boxes when it builds new branches.
Belmont Savings Bank said that only two of its six branches still offer safe deposit boxes, and at the bank’s headquarters 10 percent of the approximately 500 boxes are empty.
“The demand has slowed up,” said Hal Tovin, the chief operating officer at Belmont Savings. “It’s the nature of the world.”
It wasn’t always this way. Customers used to wait months and even years to get their little share of storage space — the size of a post office box up to a small carry-on suitcase — in the bank’s vault. For an annual cost of $35 to $300, depending on the size of the box, they also got the high-roller treatment.
Customers had to sign in to get access to the cement-encased sanctum guarded by a metal door several inches thick. Once the box is taken out of the vault, using two sets of keys, one belonging to the customer, and the other to the bank, the box owner is escorted to a private room and left alone to examine the contents.
The mystery of safe deposit boxes and their contents proved alluring to Hollywood, which featured them in many a caper movie. Amnesiac assassin Jason Bourne stockpiled his fake passports, cash, and gun in a safe deposit box in the “The Bourne Identity.” The esteemed founder of a Manhattan bank hid his Nazi-era secrets in his safe deposit box in “Inside Man.” And “The Bank Job” focused on safe deposit boxes that held compromising photos of British royalty and government officials.
In reality though, safe deposit boxes have been an affordable way for customers to protect the mundane (birth certificates) to the rare (baseball card collections and coins) to the precious (gemstones) from fire, flood, other disasters, and yes, even prying eyes. One client of insurer Pluard stores John Wayne’s cowboy hat from the movie “Rio Grande” in his box.
James Avtges started renting a safe deposit box 50 years ago and continues to stop by Belmont Savings Bank once every few weeks to check on his family’s property deeds and jewelry. “I find it very comforting knowing that things are safe from fire,” said Avtges, 85, a Belmont resident.
Younger customers, however, mostly find it a hassle. Already using branches less for all services, they don’t want to make a special trip just to get access to their belongings, said Bob Hedges, a managing director at Alix Partners, a global consulting firm based in New York City. Only 6 percent of bank customers rent a safe deposit box, and one third of those customers are over 65, according to recent survey by the firm.
Safe deposit boxes now rank along coin-counters as lowest-used bank service, Hedges said. At Boston Lock & Safe Co., one of the oldest locksmiths in the country, two or three customers come in every week who want to ditch their safe deposit box for a home safe, said David Stoia, the company’s owner.
“People would rather have their stuff in their home,” Stoia said.
Still, safe deposit boxes are unlikely to disappear soon. The customers who use and want safe deposit boxes are ones that banks yearn to keep because they have loans, mortgages, and assets, making them prime prospects for the banks to sell higher profit services such as wealth management, analysts said.
Bank of America has done away with boxes at a number of locations. But last year, when it built its 12,000-square-foot flagship branch in the Back Bay, one of the city’s wealthiest neighborhoods, it included a brightly lit room tucked in the back. Behind the sealed glass door were rows of silver safe deposit boxes, like jewel cases, stacked from floor to ceiling.
“It’s based on a local demand,” said T.J. Crawford, the bank’s spokesman. “Like any bank offering.”


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A 1955 Mercedes just pulled in $143 million at auction, making it the most expensive car ever sold at auction.
The ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe smashed the previous record for the most expensive car sold at auction by more than $95 million.
The sale, which was first reported by Hagerty Insider, happened on May 5th in a secretive and highly unusual auction at the Mercedes-Benz Museum in Stuttgart, Germany.
RM Sotheby made the announcement that it had auctioned off the coupe for 135 million euros, or about $143 million.
The winning bid was made by British car collector, advisor and dealer Simon Kidston on behalf of an unnamed client.
Kidston had also lobbied the Mercedes-Benz board for 18 months to consider selling the car.
Only selected collectors and Mercedes-Benz customers were invited to attend the auction where the car was sold.
The 300 SLR Uhlenhaut Coupe is one of only two created in 1955 and is regarded as one of the most prized cars in auto history.
Built by Mercedes’ race department, it was named after its chief engineer and designer, Rudolf Uhlenhaut.
The car was based on the company’s successful W 196 R Grand Prix car, which won two World Championships with driver Juan Manuel Fangio.
“It’s reasonable to say that nobody ever imagined that this car would ever be offered for sale, so for Mercedes-Benz to ask RM Sotheby’s to conduct the auction was an absolute honor,” said Peter Wallman, RM Sotheby’s chairman for the U.K. and EMEA.
Mercedes-Benz said it will donate the proceeds to create a fund for scholarships and educational research into the environment and decarbonization.
Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.


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Four different “credit repair” operations have been ordered to pay a total of more than $2 million in penalties for allegedly tricking people into thinking their bad credit could be easily fixed.The Consumer Financial Protection Bureau announced today that it filed complaints and proposed judgments against Prime Credit, LLC, IMC Capital, LLC, Commercial Credit Consultants, and Park View Law, …
NYS Entity Status
NYS Filing Date
MARCH 24, 2014
NYS DOS ID#
56 MAIN STREET
HAMBURG, NEW YORK, 14075
NYS Entity Type
DOMESTIC LIMITED LIABILITY COMPANY
2014 - CONSUMER TECHNOLOGY SERVICES LLC
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Betterment LLC Chief Executive Jon Stein wants to use technology and automation to make investment advice and financial services broadly accessible while lowering the cost and removing compensation conflicts.
- McDonald’s Customer Claims She Found Needle In Hamburger
By Ashlee Kieler - Wednesday Aug 16, 2017
Over the years, consumers have found a plethora of things in their fast food orders that are not actual ingredients for the meals, from marijuana dusted french fries to oatmeal with a free hot water machine lever. In the most recent incident, a Kentucky woman claims she found the tip of a needle in her McDonald’s hamburger. LEX18 reports that …
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WD Navarre Holdings LLC, the corporate parent of technology products distributor WYNIT Distribution LLC, filed for bankruptcy protection Friday.
- Fit City: Taking Night-Life Cue, Gyms Lower the Lights
By TATIANA BONCOMPAGNI - Tuesday Jun 13, 2017
Cycling, boxing and running studios, as well as some full-service gyms, are using sophisticated lighting systems to heighten the exercise experience.
- So Long, Hamburger Helper: America's Venerable Food Brands Are Struggling
Thursday Jul 6, 2017
The packaged-food industry is being hammered on both ends of the consumer spectrum, losing out to fresher items with fewer processed ingredients as well as inexpensive store labels. As brands such as Hamburger Helper and Chef Boyardee suffer, companies are trying to adapt faster.


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Goat cheese has been on the menu in the U.S. for more than a century, but the last few years have seen the trend take off.
This year, it is the most popular cheese in the United States.
Here’s a look at what’s new.
What is goat cheese?
It’s a fermented milk product made from goats’ milk. In the U


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Christopher & Banks is closing 100 stores
Struggling women's clothing retailer Christopher & Banks Corp. said Friday it will close about 100 stores nationwide by the end of January.
Plymouth-based Christopher & Banks (NYSE: CBK) also said in a news release that it was laying off employees from its home office, would seek to restructure leases for the stores that will remain open, and will accelerate its plans to consolidate some Christopher & Banks and CJ Banks stores into dual format stores.
As of Friday, the company operated 761 stores in 45 states. That includes 472 Christopher & Banks stores, 238 of its plus-size CJ Banks stores, 28 dual-concept locations, and 23 outlet stores.
There was no immediate word about which stores would close. Christopher & Banks has Milwaukee-area stores at Bayshore Town Center, Southridge, Brookfield Square, Regency Mall and Pleasant Prairie Outlet.
"We anticipate that these initiatives will help us to both improve overall store productivity and support our return to profitability," Christopher & Banks CEO Larry Barenbaum said in a statement.
The company said it laid off about 7 percent of its headquarters staff and 13 percent of its field-management team. It expects to save $2.2 million annually from the moves.
Christopher & Banks said it expects the closings to cost $12 million to $16 million over the next nine months in pre-tax expenses. That includes up to $7 million in lease-termination liabilities and severance costs.
>Click here to read the company's news release.
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Découvrir Ipsos UpdateRetrouvez chaque mois le meilleur des publications Ipsos à travers le monde sélectionné par notre Knowledge Center.
Straw Wars: Plastic Reduction - a new battleground for Brand Reputation
Global concern over environmental issues has intensified recently. Ipsos research alone shows that 71% of global consumers agree that single-use plastic products should be banned as soon as possible. The backlash against plastic is on – and for brands with plastic in their supply chain, this represents both a reputational threat and an opportunity …